- Issue
- Journal of Siberian Federal University. Humanities & Social Sciences. 2023 16 (3)
- Authors
- Zharikov, Mikhail V.
- Contact information
- Zharikov, Mikhail V.: Financial University under the Government of the Russian Federation Moscow, Russian Federation; ; ORCID: 0000-0002-2162-5056
- Keywords
- BRICS; international liquidity; gold holdings; world assets; world liabilities; BRICS Development Bank; global debt map; world monetary system; Bretton Woods institutions; net borrowers and creditors
- Abstract
The article is time-relevant, because the BRICS de facto becomes increasingly visible in the global economy and international financial architecture. De jure the BRICS’ presence is ignored by the Western governments and media. Especially acute the topic is in terms of new proposals and projects developed by the leaders at the 14th BRICS Summit, including the extension of the bloc. The author attempts to create a global view of the BRICS’ in the international relations of debt and liquidity. The author constructs a system of measures to identify the role Brazil, Russia (the USSR), India, China and South Africa played over the past 50–70 years. The result is the global debt map contrasting the posture of the BRICS and the Bretton Woods institutions in the world financial architecture. The purpose of developing the map is to demonstrate the visibility of the financial institutions established by the BRICS such as New Development Bank. The introduction of the global map of debt to the Russian and foreign literature on economics will renew and enrich the theory and understanding of the BRICS’ stance in the structure of world assets and liabilities. The significance of the global map of debt is also to show ways for Russia to cooperate and transact with countries across the world in the period of a new wave of international sanctions. The debt map is a useful instrument for responsible government agencies of Russia to estimate the geographical spread of friendly and unfriendly capital providers
- Pages
- 354–365
- EDN
- CNVSMO
- Paper at repository of SibFU
- https://elib.sfu-kras.ru/handle/2311/149946
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0).